However, car insurance companies can still charge different premiums according to age. Car insurance for young drivers is more expensive than for older motorists because they are more likely to put in a claim. One in five drivers has an accident in the first year of driving and about a quarter of road accidents involve a driver between the ages of 17 and 24.
In other words, young drivers are risky. So it's perhaps no surprise that they can pay more than double the average car insurance premium, with the cost of a policy often running into the thousands.
Of course, insurance is not the only expense associated with driving. Fuel costs remain painfully high, and there are road tax and garage bills to consider as well. These can be a huge burden for drivers of all ages.
Two-thirds of drivers have changed their driving habits in a bid to keep costs down, while 5% have been forced to give up driving their car because the costs were too high - so young drivers are clearly not on their own when it comes to experiencing the financial pain of running a car these days.
Insurers take a number of other risk factors into account when determining premiums. Your postcode can affect your premium as cars in some areas are more vulnerable to theft and vandalism than others.
In other words, young drivers are risky. So it's perhaps no surprise that they can pay more than double the average car insurance premium, with the cost of a policy often running into the thousands.
Of course, insurance is not the only expense associated with driving. Fuel costs remain painfully high, and there are road tax and garage bills to consider as well. These can be a huge burden for drivers of all ages.
Two-thirds of drivers have changed their driving habits in a bid to keep costs down, while 5% have been forced to give up driving their car because the costs were too high - so young drivers are clearly not on their own when it comes to experiencing the financial pain of running a car these days.
Insurers take a number of other risk factors into account when determining premiums. Your postcode can affect your premium as cars in some areas are more vulnerable to theft and vandalism than others.
